PNN Penn Engr & Mfg

Investology Research Issues In-depth Report on Penn Engineering & Manufacturing Corp. (PNN) with a Buy Rating POTOMAC FALLS, Va., June 8 /PRNewswire/ -- Investology Inc., an independent research company, issued an in-depth report on Penn Engineering & Manufacturing Corp. (NYSE:PNN) with a Buy rating and a 12-month target price of $24/share. Sam Kiri, CFA, initiated coverage on the company. The Buy rating is premised on the cyclical recovery for the sector, PNN's valuation discount, and likelihood of a generous dividend in FY04. PNN's industry sector is just entering a growth phase during which all the sector players historically have reported record earnings. PNN manufactures fasteners, motors and other industrial machinery components for a plethora of end-markets ranging from telecommunication to aerospace. Sam Kiri, CFA Sam has over 12 years equity research and asset management experience in both North America and the Far East, with research expertise in Banks, Resources and Energy (Oil & Gas) sectors. He was based in Asia Pacific and was employed by an affiliate of W.I.Carr Indosuez group. In 1999, he moved to North America and was a member of the research team of a large asset management firm in Canada, which has over C$17 billion assets under management. Sam is a CFA Charter Holder, a qualified Management Accountant and has a MBA from England. About Investology Inc. Investology Research focuses on micro-cap and small-cap stocks, which lack coverage by traditional research firms or investment banks. Investology Inc. is headquartered in Virginia (703-636-4300), with offices in New York and Toronto, Canada. Investology research reports are available on First Call, Zacks.com and Bloomberg. To download the report, click on: http://www.investologyinc.net/pages/7/index.htm or go to http://www.investologyinc.net/ * Disclaimer: Investors are directed to read disclaimers in each report issued by Investology Inc. Information, opinions or ratings contained in the reports issued are submitted solely for information purposes and no guarantee or representation is made as to the completeness or accuracy. Investology Inc. accepts no liability whatsoever for any direct or consequential loss or damage arising from any use of its reports or contents therein. Investology Inc.'s report or study is not intended as an offering or a solicitation of an offer to buy or sell the securities mentioned or discussed. Investors should conduct their own due diligence before investing in the company covered by the respective reports. Investology Inc. is a member of the National Association of Securities Dealers, CRD number 130408. CONTACT: Nadeem Naqvi of Investology Inc., +1-703-636-4300 DATASOURCE: Investology Inc. CONTACT: Nadeem Naqvi of Investology Inc., +1-703-636-4300 Web site: http://www.investologyinc.net/

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